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Edexcel A Level Business Exam Bundle
Edexcel A Level Business Exam Bundle
[Show more]Edexcel A Level Business Exam Bundle
[Show more]Production - The transformation of resources into goods or services 
 
Job production - where a single product is made at a time 
 
Batch production - where one type of product is made and then settings / inputs are changed to manufacture another type. This is repeated to produce those prod...
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Add to cartProduction - The transformation of resources into goods or services 
 
Job production - where a single product is made at a time 
 
Batch production - where one type of product is made and then settings / inputs are changed to manufacture another type. This is repeated to produce those prod...
% mark up - (Difference in price/original cost) X 100 
 
% change - ((New value - old value)/old value) X 100 
 
Price elasticity of demand (PED) - % change in quantity demanded/% change in price 
 
Income elasticity of demand (YED) - % change in quantity demanded/% change in income 
 
N...
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Add to cart% mark up - (Difference in price/original cost) X 100 
 
% change - ((New value - old value)/old value) X 100 
 
Price elasticity of demand (PED) - % change in quantity demanded/% change in price 
 
Income elasticity of demand (YED) - % change in quantity demanded/% change in income 
 
N...
Types of market - Mass, niche and dynamic 
 
Market orientation - The needs of the consumer placed at the centre 
 
Product orientation - Emphasis placed on the production process and the product itself 
 
Quantitative market research - Collection of numerical information 
 
Qualitative ...
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Add to cartTypes of market - Mass, niche and dynamic 
 
Market orientation - The needs of the consumer placed at the centre 
 
Product orientation - Emphasis placed on the production process and the product itself 
 
Quantitative market research - Collection of numerical information 
 
Qualitative ...
Resource managemnt - Aspects of the business which are directly linked to the fulfilment of customer orders 
 
Job production - The production of one off items to meet the specific needs of each individual cusotmer 
 
Batch production - Identical items are produced in groups( batches), each...
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Add to cartResource managemnt - Aspects of the business which are directly linked to the fulfilment of customer orders 
 
Job production - The production of one off items to meet the specific needs of each individual cusotmer 
 
Batch production - Identical items are produced in groups( batches), each...
Economies of Scale - Factors that cause costs per unit to fall as production increases 
 
Franchise - A business that sells the rights to use its name and trading methods 
 
Generic Brand - A brand that is so famous that people use its name instead of the name of the product 
 
Product Diff...
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Add to cartEconomies of Scale - Factors that cause costs per unit to fall as production increases 
 
Franchise - A business that sells the rights to use its name and trading methods 
 
Generic Brand - A brand that is so famous that people use its name instead of the name of the product 
 
Product Diff...
Job Production - where a single product is made at a time 
 
Advantages of Job Production - high quality due to skilled workers, motivated due to variable work, customised products, premium price 
 
Disadvantages of Job Production - high labour costs, slow production, expensive specialist t...
Preview 1 out of 4 pages
Add to cartJob Production - where a single product is made at a time 
 
Advantages of Job Production - high quality due to skilled workers, motivated due to variable work, customised products, premium price 
 
Disadvantages of Job Production - high labour costs, slow production, expensive specialist t...
Production - It is the total number of units which are produced in a given time period. 
 
Job production - It is when there are production made to tailor to the consumer needs. 
 
o Advantages - It is tailored to the consumer needs and charges a higher price. 
o Disadvantages - Time-consuming...
Preview 1 out of 2 pages
Add to cartProduction - It is the total number of units which are produced in a given time period. 
 
Job production - It is when there are production made to tailor to the consumer needs. 
 
o Advantages - It is tailored to the consumer needs and charges a higher price. 
o Disadvantages - Time-consuming...
Pull factors - Factors that entice firms into new markets and are the opportunities that businesses can take advantage of when selling into overseas markets 
 
Push factors - Factors in the existing market that encourage an organisation to seek international opportunities 
 
Risk - The prob...
Preview 1 out of 2 pages
Add to cartPull factors - Factors that entice firms into new markets and are the opportunities that businesses can take advantage of when selling into overseas markets 
 
Push factors - Factors in the existing market that encourage an organisation to seek international opportunities 
 
Risk - The prob...
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